Impact of Technology and Social Media on Company's Product and Services

This report discusses the impact of technology and social media on company's product and services. It also covers the positive and negative effects of globalisation on a country or region.

FDN005 - FOUNDATIONS
OF BUSINESS AND
TOURISM

TABLE OF CONTENT
INTRODUCTION...........................................................................................................................2
SECTION A.....................................................................................................................................2
Question 1: Impact of development in technology or social media on company’s product and
services........................................................................................................................................2
SECTION B.....................................................................................................................................4
Question 2: Globalisation impact on country or region...............................................................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
By the foundation of business and tourism, in which tourism is the main social activity
for human being. Tourism is an activity in which person travelling and staying in other countries
outside their usual location for business, leisure and any other purpose. This report covers the
impact of development in technology and social media on organisation and company’s product
and services. And also covers the impact of globalisation on country or region, both positive and
negative effect on country or regions.
SECTION A
Question 1: Impact of development in technology or social media on company’s product and
services
Technology is the method, skills and process that is used by people to achieve the goals.
Company or organisation use the technology to produce the goods and services and achieve the
company’s goals and also solve the problem of people or organisation. Social media is the
facility of sharing the information, ideas, thought through the virtual networking. Social media is
a computer based technology and also internet based activity that help the people to interact with
each other (Ahmad, and Bakar, 2018). In last 10 to 15 year a development in technology and
social media has a big impact on Hotel Sofitel London St James and business. A development in
technology not only update the current products but also finds the methods of manufacturing
products. A development in technology helps the organisation to increase the quantity of product
and also more cost- effective strategies can be developed.
The impact of technology on company’s product and services
 Cost– A development in technology help the company to be more cost – effective or
reduce the cost of manufacturing a product.
 Productivity– Using machinery and technology to produce a product help the
organisation to increase the product quantity. Automation is the good for organisation for
mass production.
 Quality –All business need to maintain quality of product, machinery help to maintain a
quality of products.
 Production demand and Inventory management – A advance technology help in the
organising the order fulfilment process. Due to technology there is a minimal intervention

of human, so the order goes into into supply chain and continue toward fulfilment
without any error. The technical system helps in getting information about product
demand and inventory level on time, that reduce the mistake, cost and delay in product
distribution.
 Warehouse workflow optimization - Before technology advance and automated system,
the worker wastes a lot of time on transfer the product. After the development in the
technology there is facility of machines for the product movement like elevators, rails,
etc. that help to reduce the wasting the time of worker (Carlson, 2019). In a modern
warehouse there is software for warehouse management, that software improves the
accuracy of managing the product with order fulfilment in Hotel Sofitel London St
James.
 Maximise distribution efficiency – Technology development helps in fast product
distribution process. The distribution manager can optimize the supply of product by
analyses the fastest route of supply with lower cost.
Impact of development in social media in organisation
 Reach out a large audience – Social media marketing is one of the best platform that help
to reach a large number of customer. It is an important source for people to know about
the latest product, new trends, various deals, advertisement. Social media help to boost
the brand awareness among the potential customers and help to connect with people
related to Hotel Sofitel London St James.
 Omni channel– Omni channel means the various methods available for shopping to
consumer like online shopping, physical store etc. Social media is the main source for
customer to know about the trends, new product and services, and brands of product. It is
the powerful channel to engage with the customer by different channels like Facebook,
WhatsApp, Twitter, LinkedIn etc.
 Economical – Social media marketing is economical as compare with any other
marketing technique. Through social media company reach a large number of audience
with low cost (Huh, and Park, 2021).
 A single person sharing the message of organisation can reach a hundred number of
people virtually without any cost.

 Help in getting Collecting customer feedback – Social media help to get the customers
reviews and feedback of product. The feedback of customer helps to improve the
reputation, brand image of Hotel Sofitel London St James and also improve the
relationship with customer. In feedback customer also provides the suggestion to
company, and those suggestions help the company to improve their product. Feedback is
not only useful for company but it is also useful for other customer when they buy the
product.
 Generate more Loyalty – There is a positive impact of social media on company or
enterprise. Social media help to generate more loyalty; this can be done by creating
Hotel Sofitel London St James page on social media (Kyrylov, 2020). Company can
build a brand loyalty by interacting with customer and also by build a good relation with
customer. Company share a visual content or some good quality content to inspire the
customer for brand loyalty.
 Building a community – Social channel help the company to build a community by
spreading the message about the products, values. Building a community on social media
help the company to keep the communication with current customer and also boarder the
target market.
 Building trust – Social media is the main way to build the trust with customer. A
company can build their trust with customer by sharing the positive review, Hotel Sofitel
London St James achievements on social media page.
SECTION B
Question 2: Globalisation impact on country or region
Globalisation refers to spread of goods, information, technology, job across the nation.
This term describes that the increase in internationalisation of market place for product and
services, that includes the technology, production, corporate and industries, financial systems
(Zaidi, 2019). It Involve in increasing the interdependence and integration of over-all economy
In United Kingdom. That means that there will be increase in trade and also increase in
movement of capital and workers.
Positive Impact of globalisation on country
Increase in trade

Due to globalisation there is an increase in international trade across the world of UK.
Globalisation open an international trade to companies that help in increase the sale of product
and services in across the world. Prior company sale their product and services to only local
people but after globalisation it is possible for company to sale their product across the world.
Greater choice
Globalisation is also beneficial for consumer because it provides a wider range of choice
in product and services (Bhattachrya, 2021). So the customer can compare the goods with their
substitutes and then buy it. Choice is not only available to customer but also available for
company, due to globalisation companies can import the goods from other country. Organisation
can compare the goods or raw material’s price and quality and buy it. Travelodge is a very good
example of an UK based organization which is globalising itself worldwide.
Employment
Due to globalisation various country provide the employment to people. Globalisation
create a concept of outsourcing in which company hire the employees from outside of the
country. Globalisation help in increase the trade and increase in production so that also increase
the employment opportunity do employees.
Competition
Competition is the one of important effect of globalisation, due to global competition
domestic companies have to fight with foreign companies in various aspects like product quality,
product cost, technology. Globalisation help the company in finding the cheaper labour and low
cost material and also the economics of scale help the company to produce the product at low
cost in UK. That help the company to increase its market share and compete with competitor.
Rise in technology
Technology is the one of important tools for quality of product and services and also for
competition. Globalisation expand the technology quality and also rise the speed of technology
transfer (Fernando, 2020). Many organisations get the new opportunity by obtaining the help of
technology. E- commerce is good example, e – commerce helps the business to get the new
opportunity.
Lower cost
Globalisation make it easier for company to subcontract the part of product in production
process with the lower workers cost and technology enhancement also help in cost effectives in

production of product. Lower cost of product helps the company to get a high profit and also
increase the market share of company
Easy to travel and global mobility
Due to globalisation there is advance in transportation facility that help the people in easy
to travel in all over the world. Cruise ships, aircraft, trains and other mode of transportation help
the people to travel easily and quickly. The fastest travelling helps the people to explore the
world and also easy for businessman to do their business. United Kingdom is having good
tourism and there are effectively actions which businesses of UK which want them to expand.
Increase the awareness about the new destination
Globalisation positively impact on tourism; It create a greater awareness of destination
across the world. Now in this era people enjoy their life and like to explore the new city, new
destination. They do the leisure activity, site visiting across the world.
Culture
Globalisation make a positive impact on culture. Different people have different culture,
people meet with each other for various purpose like for to do the business, to purchase the
product, for getting any services etc (Fernando, 2020). Due globalisation the language, style,
food, all thing spread over the world. People moved from one country to another country and
they adopt each other culture.
Negative Impact of globalisation on country or region
Environmental damages
To meet the global demand organisation has to increase the production. For increasing
the production company use more natural resources that make a negative impact on environment.
Fluctuation in price
Due to globalisation there is an increase competition in business, that mean best price
win. price is always fluctuating due to competition it is not good for company. Because if price
fall by competitor company for the same product than company also decrease the price of
product that impact on profit of company in developing countries.
Terrorism
Due to globalisation, there is increase the terrorism in country. Due to advancement of
technology it is easy for the terrorist to share the information and the globalisation make it easy

for terrorist to move freely between the countries (Positive and negative effects of Globalization.
2020). Terrorism harms the tourism in a big manner.
Job insecurity
It put an insecurity in the mind of domestic employees, because due globalisation
organisation has option of outsource of part of production from where the cost of product and
services are lower than in their country. So this thing make insecurity in the mind of employees.
Legal impact
Due to globalisation, organisation that have presence across the world than the company
has to follow the rules and regulation of all countries in which that company exist (Vitez, 2019).
It is difficult for organisation to follow the all rules and regulation and also difficult to follow
any changes in rules and regulation. Developing countries are having different legal aspects
which need to be understood and right actions must be taken, for example, India, Africa, etc.
CONCLUSION
From the above report it had been conclude that the development in technology and
social media impact on the company’s product and service from last ten to fifteen years.
Development in technology increased the production and quality of product. It also decreased the
cost of product and help to manage inventory or warehouse effectively. Social media also impact
on organisation product and services, due to social media company reach a large number of
people and also social media in economical as compare to other marketing sources. This report
also covered the impact of globalisation on country or regions, both positive and negatives effect
of globalisation on organisation or region.

REFERENCES
Books and Journals
Ahmad, S. Z., Ahmad, N. and Bakar, A. R. A., 2018. Reflections of entrepreneurs of small and
medium-sized enterprises concerning the adoption of social media and its impact on
performance outcomes: Evidence from the UAE. Telematics and Informatics. 35(1).
pp.6-17.
Books and Journals
Carlson, J., and et. al., 2019. Feel the VIBE: examining value-in-the-brand-page-experience
and its impact on satisfaction and customer engagement behaviours in mobile social
media. Journal of Retailing and Consumer Services. 46. pp.149-162.
Huh, H. S. and Park, C. Y., 2021. A new index of globalisation: Measuring impacts of
integration on economic growth and income inequality. The World Economy. 44(2).
pp.409-443.
Kyrylov, Y., and et.al., 2020. International Tourism Development in the Context of Increasing
Globalization Risks: On the Example of Ukraine’s Integration into the Global Tourism
Industry. Journal of Risk and Financial Management. 13(12). p.303.
Zaidi, S. A. H., and et. al., 2019. The impact of globalization, natural resources abundance, and
human capital on financial development: Evidence from thirty-one OECD
countries. Resources Policy. 64. p.101476.
Online
Bhattachrya, s., 2021. Top 9 Ways How Social Media Impacts Your Business. [Online].
Available through: < https://www.revechat.com/blog/top-9-ways-social-media-impacts-
businesses/>
Effects of Globalisation on Businesses. 2018 [Online]. Available through:
<https://www.ukessays.com/essays/management/effects-globalisation-businesses-
2964.php#:~:text=Competition%3A,share%20(Forsyth%2C%202011).>
FERNANDO, J., 2020. Globalization. [Online]. Available through: <
https://www.investopedia.com/terms/g/globalization.asp>
Positive and negative effects of Globalization. 2020. [Online]. Available through:
<https://www.ukessays.com/essays/economics/positive-and-negative-effects-of-
globalisation-for-business-economics-essay.php>
Vitez, o., 2019. The Impact of Technological Change on Business Activity. [Online]. Available
through: https://smallbusiness.chron.com/impact-technological-change-business-
activity-2191.html